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European Financial Services Proposals

Part of Oral Answers to Questions — Foreign and Commonwealth Office – in the House of Commons at 4:22 pm on 1st December 2009.

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Photo of Stewart Hosie Stewart Hosie Shadow Chief Whip (Commons), Shadow Spokesperson (Treasury) 4:22 pm, 1st December 2009

I appreciate what the Minister is saying and that ECOFIN will meet tomorrow, but it is difficult to see how to agree on a proposal for a board that will, rightly, issue recommendations and take actions-presumably they will tighten up, weaken, amend or adjust regulation-when we do not yet have it. Can she not give us some kind of clue as to the regulatory framework that will sit alongside this new architecture?

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